India Financial News

Subscribe to enjoy similar stories. New Delhi: The Andhra Pradesh government has granted a second extension to Adani Green Energy Ltd for supplying renewable power after the company missed two earlier deadlines citing transmission unavailability, said three people aware of the development. Adani Green’s original deadline of March was extended to September.

Subscribe to enjoy similar stories. The Nifty 50, the Indian stock market's benchmark index, has continued to consolidate within the range of 24,125–24,350 points for the last three trading sessions. The session on Wednesday started on a muted note at 24,204 and saw a sideways movement during the first half.

Subscribe to enjoy similar stories. New Delhi: India’s bankruptcy regulator and the central government will consider making mediation mandatory between defaulting companies and their creditors before moving proceedings into bankruptcy courts, two persons informed about the development said.

Subscribe to enjoy similar stories. It’s peak wedding season in India and airlines and operators of charter jets are rejoicing with the honeymooners. India’s peak wedding season spans from November to March, aligning with a higher number of dates deemed auspicious for matrimonial alliances.

Subscribe to enjoy similar stories. In October, banks added 0.79 million credit cards, compared with 1.69 million last October. HDFC Bank added the most (0.24 million), followed by State Bank of India, which issues credit cards through subsidiary SBI Card (0.22 million), and ICICI Bank (0.14 million).

Subscribe to enjoy similar stories. India’s edtech sector has hired several thousand graduates from the famed Indian Institutes of Technology (IITs)—both from campus and laterally—as teachers over the past five years. Notably, the salaries on offer are handsomely higher than what industry offers.

Life Insurance Corporation of India is in discussions to acquire as much as half the stake in ManipalCigna Health Insurance, as the country's largest insurer seeks an entry into the fast-growing, yet underserved, market for medical expenses coverage, people familiar with the matter said. ManipalCigna is a joint venture between Manipal Education & Medical Group and US-based Cigna Corporation.

One Piece Chapter 1132 promises exciting developments in the Elbaf Arc. It continues exploring the kingdom of the Giants, pivotal character arcs, and a mysterious warning that raises tension for future events.

ZF Group on Wednesday divested a 4.32 per cent stake in its Indian subsidiary ZF Commercial Vehicles Control System (CVCS) India for Rs 1,022 crore, according to exchange data. According to the bulk deal data on the NSE, WABCO Asia Pvt Ltd, promoter and forming part of ZF Group sold a 4.3 per cent stake or 8.2 lakh shares of the company. The shares were offloaded at an average price of Rs 12,465.19 apiece, taking the transaction value to Rs 1,022.14 crore. Meanwhile, Aditya Birla Sun Life Mutual Fund acquired 1.60 lakh shares of ZF CVCS India at an average price of Rs 12,400 per piece, taking the deal value to Rs 199.24 crore. Wabco Asia's holding in ZF CVCS India has come down to 63.17 per cent from 67.49 per cent.

Moody's Ratings said Wednesday. The agency expects power demand here to rise by 5-6% annually during this period. The utilisation rate for coal-based power capacity is likely to be high at 65-70% despite additions. Although Asia Pacific power markets are undergoing carbon transition, current thermal generation, including coal, oil and gas, remains the key supplier of power, and this trend will continue for at least the next three years to support increasing power demand in the region, it said.

electric vehicles and not just those planning to adopt eco-friendly modes of personal transportation, a senior company executive said. The Mumbai-based automaker on Tuesday made its first full-fledged foray into India's nascent EV market with the introduction of two pure electric models. These are the first two «born electric» models based on the company's latest INGLO vehicle architecture. M&M plans to launch three to five more models based on the same vehicle architecture over the next few years. «We're not targeting EV buyers, but lifestyle buyers. If we target EV buyers, we won't get anywhere. Our target is to convert ICE (internal combustion engine) to lifestyle EVs,» Rajesh Jejurikar, executive director, auto and farm equipment sector, Mahindra & Mahindra, told ET. He said the first thing M&M would want a potential customer to have is the desire to drive its EVs.

NLC India Ltd, ACC Ltd and JSW Energy Utkal Ltd are among eight companies that emerged the highest bidders for coal blocks in the tenth round of commercial mining auction. The coal ministry launched the auction of commercial coal mines in June, while forward e-auctions for nine mines began November 21. In the forward auctions, the nine mines-three fully explored mines and six partially explored-were successfully auctioned. These nine mines have a combined geological reserve of around four billion tonnes and a cumulative peak rated capacity (PRC) of 14.10 million tonnes per year, excluding partially explored coal mines. NLC bid the highest for the New Patrapara South block in Odisha, having geological reserves of 720.9 million tonnes. ACC was the highest bidder for Sarai East (South) in Madhya Pradesh. JSW Energy Utkal was the highest bidder for Odisha's Bartap mine, which has the highest reserves among all blocks at 1.6 billion tonnes. The mines are expected to generate annual revenues of ₹1,446 crore.

mall developers plan to shrink multiplex spaces in their future projects as cinemas no longer attract big crowds and generate enough revenues throughout the year. Multiplexes used to generate 10% of the footfall of a mall, which has reduced to 6-7%, forcing the developers to rethink the strategy, industry executives said. «With alternate forms of entertainment, we are looking for rationalising cinema space in the mall,» said Sriram Khattar, vice chairman and managing director, rental business, at DLF.

JioStar, the newly formed media behemoth spawned by the merger of Walt Disney’s Star and Viacom18, has the potential to reshape India’s media and entertainment landscape, Vice Chairman Uday Shankar says. “The merger gives us a strong foundation to innovate and experiment, paving the way for transformative change,” he tells Javed Farooqui and Vinod Mahanta in an in-depth conversation that touched upon subjects as diverse as industry structure, vision for the combined entity, and execution challenges in synergy capturing. Announced last week, the merger has created a company with Rs 26,000 crore ($3.1 billion) in combined revenue for FY24, reaching 750 million viewers through 115 TV channels under the Star and Colors brands. It also includes two of India’s leading streaming platforms, JioCinema and Disney+ Hotstar. In this exclusive interaction, Shankar discusses the vision for building India’s largest media and entertainment company, the challenges of competing with global tech giants, strategies to address sports business losses, and the future for television that many believe is in an attritional decline. Edited excerpts: Will the scale of JioStar be able to create a powerful differentiating factor? This merger presents a tremendous opportunity to redefine the relationship between content and consumers, as well as with key stakeholders like advertisers and distributors.

Nitin Gadkari stated. The Indian automobile industry's market size is approximately Rs22 lakh crore. China leads with Rs47 lakh crore, followed by the US at Rs78 lakh crore. Speaking at the 'Times Green Drive Conclave and Awards 2024,' the minister highlighted India's potential and growth. India is currently the fastest-growing major economy in the world.

Arunachal Frontier Highway connecting 12 districts of the state along the Line of Actual Control (LAC) on the India-China international border, a top official said. The ambitious project to be built at an estimated cost of Rs 40,000 crore is seen as a move to counter China's aggression in Arunachal Pradesh, besides contributing to the socio-economic development of the border state. The highway is being constructed along the 'India-Tibet-China-Myanmar' border and the road project will be as close as 20 km from the LAC and international borders. It will start from Bomdila and pass through Nafra, Huri and Monigong towns, which are closer to the LAC or the McMahon Line, and conclude in Vijaynagar near the India-Myanmar border.

unmanned aerial vehicle (UAV) technology domain on Wednesday announced the successful delivery of a «one-of-its-kind» logistics drone to the Indian Army, aimed at enhancing its capabilities in challenging terrains. The Sabal 20 logistics drone has been manufactured by EndureAir Systems. The firm announced the «successful delivery of one-of-its-kind Sabal 20 Logistics Drone to the Indian Army», saying it marks a «significant milestone» in enhancing the logistics capabilities of the defence forces operating in challenging terrains, according to a statement issued by the company. The aviation technology company was incubated on the corridors of IIT-Kanpur in 2018, with the objective to provide world-class drone technology that is best suited for both defence and civilian applications, it said.

₹20,000, but don’t want to compromise on essentials, the iQOO Z9 is a good option after its recent price cut on Amazon. As of today, the device can be bought for ₹18,498, which is significantly less than its original MRP of ₹24,999 and represents a 26% price drop.

Central Waqf Council (CWC) received complaints regarding various issues relating to waqf properties from time to time and the same were forwarded to the state waqf boards and governments concerned for appropriate action. «As per the details available on WAMSI (Waqf Assets Management System of India), 58,929 waqf properties are facing encroachment, out of which Karnataka has 869 such waqf properties,» he said. According to sections 54 and 55 of the Waqf Act, the chief executive officer of state waqf boards has the power to take legal action against unauthorised occupation and encroachment of waqf properties, Rijiju pointed out.

Indian Railways has taken up the mammoth task of screening 22.5 lakh applicants at 346 centres across the country to recruit 18,799 assistant loco pilots. The examination began last Monday and will continue till Friday. It is being held in 15 shifts and 18 languages. «Of the total candidates, 13.5 lakh have already appeared for the exam. In the next two days, nine lakh candidates are expected to appear for the exam,» said a senior official from the Railway Board. The Railway Recruitment Board (RRB) holds examinations for recruitment for various posts in the Indian Railways.

Air India Express will start flights to Bangkok from Surat and Pune from December 20, making Thailand's capital its 15th international destination. Besides, the Tata Group carrier will commence services to Dimapur (Nagaland) and Patna (Bihar). With these new cities, the airline will be connecting a total of 51 cities across India, the Middle East and Southeast Asia. «Operations to Bangkok will commence on 20th December 2024, with direct flights connecting Surat and Pune to the vibrant capital of Thailand. Additionally, the airline strengthens its domestic network with the launch of services to Dimapur and Patna, offering daily direct connectivity between Dimapur and Guwahati, and Patna and Bengaluru and Hyderabad,» the airline said in a release on Wednesday.